A Complete Guide for First Home Buyers Grants and Schemes

Hi all. As we discussed several core insights many times, we are sharing something that interests you in this article.?

Are you a First Home Buyer, looking for easy solutions that can help you, so you have landed on the right page for the right solution? In this blog, we will talk about government grants and schemes for the First Home Buyers. Hope this article helps you answer all your queries.?

Let’s discuss.?

Buying your first home may be both exhilarating, difficult, and a little stressful. For everyone, it's a significant step. It's also crucial to match your finances with your beliefs at this point because we believe that buying a house is probably the largest purchase you will ever make.

Even though Australian real estate prices are rising (again), a few government initiatives are helping first-time homebuyers by making it simpler for them to save a deposit.

You may be wondering if we've introduced you to the concept of grants and schemes, but what exactly are they? And now that you're here, we assume your broker and consultants haven't given you enough information if they've informed you at all. Ops!! that’s a big miss we know. But don't worry Nfinity Financials are there to help you. In the next session of our blog, we will talk about government programs, and you can choose the right one for you. And if you're still confused, we're here for you.

First Home Buyer Schemes and Grants

To assist eligible Australians in realising their dream of home ownership more quickly, the federal and state governments have put in place a wide range of programmes, incentives, and fee waivers.

Here's an overview of everything accessible, including eligibility requirements.

• The Home Guarantee Scheme(HGS)
• First Home Buying Guarantee (FHBG)
• Regional First Home Buyer Guarantee (RFHBG)
• Family Home Guarantee (FHG)
• Help-to-buy scheme
• First Home Super Saver Scheme (FHSS)
• First Home Owner Grant
• Stamp Duty Waiver

we've covered every facet of first-time home buyer schemes and grants, we hope you can choose the best one for you. You may believe that this information is sufficient to make your decision, but we have more for you. To date, we have mostly discussed grants and schemes; state-specific schemes have not been addressed. Yes, you're correct; we have more to share.?

First Home Owner Grant Across Australia

Let’s discuss the grants in Victoria, Queensland, Western Australia, Tasmania, and the Northern Territory.?

Queensland

Up to $30,000 can be awarded to qualified Queensland first-home purchasers for the purchase or construction of a new home (until June 2025).

New South Wales

First-time purchasers in New South Wales who meet the eligibility requirements can receive up to $10,000 towards the purchase of a new home with a maximum value of $600,000 or a new home and land package valued up to $750,000.?

Victoria

In Victoria, eligible first-time homebuyers can get up to $10,000 towards the purchase or construction of a new house with a maximum value of $750,000.

Western Australia

In Western Australia, first-time homebuyers who meet the eligibility requirements can get a grant of up to $10,000 to help them build or purchase a new house in a metropolitan area of Perth worth up to $750,000.

South Australia

In South Australia, qualifying first-time homebuyers can get up to $15,000 towards the purchase or construction of a new home with a maximum value of $650,000.

Northern Territory

In the Northern Territory, qualified first-time homebuyers can get up to $10,000 towards the purchase or construction of a new house. Your property value and income have no bearing on the FHOG.?

Tasmania

In Tasmania, eligible first-time homebuyers can get up to $30,000 towards the purchase or construction of a new house.

How can Nfinity Financial help you?

As a mortgage broker firm:

• We can help you to apply for all the grants which you are eligible for.
• Make the process easier for you.
• Help you get a competitive interest rate.
• With current reports and trends, we help you to find the best property.
• Help you through settlement and beyond.

We are genie to all your worries. Call us at 0405 593 807 for more information on the Australian real estate market! If you require any additional help, you can also make an appointment. Our intention is to help you!